Investors caught off-guard by China's dramatic COVID policy pivot are betting on both greed and fear as the economy starts to gradually reopen, snapping up shares in businesses from travel agencies and casinos to funeral companies.
The positioning for both the bright and dark side of China's COVID pivot reflects growing concerns from investors surprised by the rapid policy change, especially as COVID vaccination rates among the elderly remain relatively low.
While Swan is not convinced there will be a big revival in consumption, the global hedge fund is looking to add exposure to China on the long side. "Initially we were cautious on China. Over the last 10 days, we got more signs of definitive easing of dynamic zero policy," Neto told Reuters. For long-term plays, he prefers consumer, insurance and internet stocks, which will benefit from an eventual economic reopening.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China to allow German expats to use German COVID-19 vaccinesThe Chinese foreign ministry said China and Germany had reached an agreement on providing 'German vaccines' to German nationals in China, after the German Chancellor recently said that BioNTech's COVID-19 vaccine would be used by German expatriates.
Read more »
China cracks down on drug price gouging amid fears of COVID spikeChinese authorities said they were cracking down on price gouging of medical supplies and drugs, and seeking to ensure they flow smoothly as fears grow of a massive COVID-19 outbreak after the nationwide dismantling of strict restrictions.
Read more »
China tackles medical supply snags, price gouging amid COVID fearsChina said on Saturday it would stop checking truck drivers and ship crew transporting goods domestically for COVID-19, removing a key bottleneck from its supply chain network as a dismantling of the country's zero-COVID policy gathers speed.
Read more »
Facing COVID surge, China expanding hospitals, ICUsBEIJING (AP) — Facing a surge in COVID-19 cases, China is setting up more intensive care facilities and trying to strengthen hospitals as Beijing rolls back anti-virus controls that confined millions of people to their homes, crushed economic growth and set off protests.
Read more »
China battles rising COVID-19 cases after easing precautionsBeijing last week also eliminated regular mandatory testing, so the official tally of cases is not clear.
Read more »